Pressroom
Natixis supports BPCE’s entry into the Dim Sum market
Natixis acted as Joint Lead Manager / Bookrunner on Groupe BPCE’s inaugural issuance of offshore renminbi (Dim Sum) bonds.
The offering of CNH750 million of 10NC5 Basel III-compliant Tier 2 bonds, which have a coupon of 5.75% per annum, was successfully priced on Wednesday 18th March.
“Natixis is very pleased to have facilitated this Groupe BPCE transaction, which represents the group’s first public issuance of offshore renminbi and follows a series of successful offerings in the Asia Pacific debt capital markets over the past few years, including a well-established Samurai series in Japan for senior and subordinated debt” said Devan Selvanathan, Head of Debt Platform, Asia Pacific.
He added, “These transactions are significant milestones in the implementation of Natixis’ New Frontier plan, serving to support the diversification of the group’s funding sources and strengthen the visibility of Groupe BPCE and Natixis in the Asia Pacific region.”
Terms and Conditions
|
Issuer |
BPCE SA |
|
Expected Issue Ratings |
Baa3 (Moody’s) / BBB (S&P) / A- (Fitch) |
|
Currency |
Offshore RMB (CNH) |
|
Issue Size |
CNH750 million |
|
Tenor |
10 year, non-call 5 |
|
Coupon |
1-5-year: 5.75% 6-10 year: 1-year CNH HIBOR +124.66 bps |
|
Pricing Date |
18 March 2015 |
|
Maturity Date |
26 March 2025 |
|
Optional Redemption Date |
26 March 2020 |
Contact
About Natixis
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment banking, insurance and payments. A subsidiary of Groupe BPCE, the second-largest banking group in France through its two retail banking networks, Banque Populaire and Caisse d’Epargne, Natixis counts nearly 16,000 employees across 38 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE’s networks. Listed on the Paris stock exchange, Natixis has a solid financial base with a CET1 capital under Basel 3(1) of €11.2 billion, a Basel 3 CET1 Ratio(1) of 11.3% and quality long-term ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings: A+).
(1) Based on CRR-CRD4 rules as reported on June 26, 2013, including the Danish compromise - without phase-in and including current financial year’s earnings and accrued dividend (based on a 60% pay-out).
Figures as at 31 December 2019.
